Last week, the Rockefeller Brothers Fund, who made their fortune in the oil business, announced their intention to pull out of the traditional energy sector, and invest their capital in renewable energy initiatives. They are beginning by walking away from their investments in companies that rely on the most carbon intensive of fuels, such as coal and the oil sands. They are one of many individuals and institutions to make this substantial decision in recent the months, leading up to the climate change summit at the UN in New York City. There is a great article I invite you to read on the subject recently published by Bloomberg News. It goes into the economic motivations behind the move, as well as what this could mean for the future of investments in renewable and alternative energy sources. You may also be interested in reading about a new business model for energy cooperatives that we researched, the Ottawa Renewable Energy Cooperative (OREC) that is really taking off.
The World is Definitely Changing